In a bid to curb high inflation, the centre in fact resorted to a much needed action and reduced excise duty on both the auto fuel. For petrol, excise duty has been brought down by Rs. 8 and for diesel it has been cut by Rs. 6 per litre.
So, the fuel rates, which have been held constant for quite a while in the country will see the likely effect from today i.e. Sunday (May 22, 2022).
Fuel rates are revised every morning at 6 am following the dynamic pricing model and likewise OMCs put it across for the general public to know.
In 2020, the excise duty hike by the centre had pushed the central taxes on petrol to their highest of Rs. 32.9 per litre and likewise for diesel to Rs. 31.8 per litre.
Following the ruling that after the centre's action, states also incorporate the same the Kerala state and Rajasthan state have reduced the VAT. Rajasthan has announced VAT cut by ₹ 2.48 per litre for diesel and diesel by ₹ 1.16 per litre.
Bringing in the much needed respite, the new and reduced petrol and diesel rates in metros are as following:
|Metro city||Petrol rate in Rs/litre||Diesel rate in Rs./litre|